Andatee China Marine Fuel Services Corporation to Receive Banker’s Acceptance of USD 8.84 million
Services Corporation (“Andatee” or the “Company”) (Nasdaq: AMCF), the leading
independent operator engaged in the production, storage, distribution,
wholesale purchase and sale of blended marine fuel oil for cargo and fishing
vessels in
(approximately
for a period of six months.
The Bank of Yingkou has lent
million
interest rate of approximately 6% for a period of six months. The Company
plans to use this loan for general corporate and working capital purposes as
well as its ongoing acquisition activities in its continuous effort to
establish its One-Stop Depot service model along the coastal areas.
“We’re pleased with the foregoing bank loan arrangement as well as the
confidence that local banks have shown in the company, especially under
current credit-tightening circumstances,” commented Mr. An Fengbin, Chairman,
President and CEO of Andatee China Marine Fuel Services Corporation. “This
loan, along with future more active involvement from other local banks will
allow Andatee to vigorously pursue the expansion of footprints along the
coastal areas as well as more market opportunities for its marine fuel
products,” Mr. An concluded.
About Andatee China Marine Fuel Services Corporation
Andatee China Marine Fuel Services Corporation (“Andatee” or the “Company”)
is a leading independent operator engaged in the production, storage,
distribution, wholesale purchase and sale of blended marine fuel oil for cargo
and fishing vessels in
Dalian
in
Provinces in
Safe Harbor Relating to the Forward Looking Statements
Statements contained in this press release not relating to historical
facts are forward-looking statements that are intended to fall within the safe
harbor rule under the Private Securities Litigation Reform Act of 1995. All
forward-looking statements included herein are based upon information
available to the Company as of the date hereof and, except as is expressly
required by the federal securities laws, the Company undertakes no obligation
to update or revise any forward-looking statements, whether as a result of new
information, changed circumstances or future events or for any other reason.
As a result, investors should not place undue reliance on these forward-
looking statements. To the extent that any statements made here are not
historical, these statements are essentially forward-looking. Forward-looking
statements can be identified by the use of words such as “expects,” “plans,”
“will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates” and
other words of similar meaning. The Company may also make written or oral
forward-looking statements in its periodic reports filed with the U.S.
Securities and Exchange Commission and other written materials and in oral
statements made by its officers, directors or employees to third parties.
These statements are subject to risks and uncertainties that cannot be
predicted or quantified and, consequently, actual results may differ
materially from those expressed or implied by these forward-looking statements.
Such risk factors include, without limitation, our ability to properly apply
the fund to the Company’s operational activities or service the terms and
provisions of the bank loan. These forward-looking statements are subject to
known and unknown risks and uncertainties that could cause actual events to
differ from the forward-looking statements. More information about some of
these risks and uncertainties may be found in the Company’s filings with the
Securities and Exchange Commission under the caption “Risk Factors” in such
filings.
For more information, please contact:
Company Contact:
Mr. Wen Tong
Chief Financial Officer
Andatee China Marine Fuel Services Corporation
Phone: +86-411-8360-4683
Email: bill.wen@andatee.com
Web: http://www.andatee.com
SOURCE Andatee China Marine Fuel Services Corporation